Sell a flood or water damaged house

Water damage is part of life on the South Shore

Lindenhurst sits right on the Great South Bay, and a large part of the village south of Montauk Highway is laced with canals. That's a big part of what makes it a great place to live: boats in the backyard, water views, and quick access to the bay. It also means water damage is something a lot of local homeowners deal with at some point.

Hurricane Sandy in October 2012 is the storm everyone remembers. Reports at the time described several feet of water in the streets south of Montauk Highway, and hundreds of homes flooded. In the years since, many houses have been raised, rebuilt, or repaired. Others still carry damage that was never fully fixed, elevation work that stalled, or permit issues from repairs. And flooding didn't stop with Sandy. Nor'easters and high tides still push water into low-lying streets and basements.

Away from the water, the most common source of damage isn't the bay at all. It's plumbing. Burst pipes, failed water heaters, slow leaks behind walls, and roof leaks cause a huge share of the water damage we see in Lindenhurst houses.

We buy houses with all of it.

Types of water damage we buy

• Storm surge and tidal flooding
• Burst or frozen pipes
• Slow leaks behind walls or under floors
• Roof leaks that reached ceilings and walls
• Basement water and failed sump pumps
• Sewer backups
• Water heater and appliance failures
• Mold growth from any of the above
• Houses that were gutted after a flood and never finished
• Houses that were partially raised or rebuilt

Why flood-damaged houses are hard to sell

There are a few reasons water-damaged houses tend to sit on the market.

Financing is the first. Most buyers use a mortgage, and lenders generally won't fund a house with active water damage, missing drywall, or visible mold. The house has to be repaired before most buyers can even get a loan.

Flood zones are the second. Many homes south of Montauk Highway are in FEMA-designated flood zones. When a house is in a high-risk flood zone and has a federally backed mortgage, flood insurance is generally required. Flood insurance costs vary a lot by property, elevation, and flood zone, and some buyers get nervous once they see the numbers.

Disclosure is the third. Buyers and their attorneys tend to ask detailed questions about flood history, prior insurance claims, and mold. Those questions can slow a deal down or cause a buyer to walk away.

None of that stops us. We buy with cash, so we don't need a lender's approval, and we price the flood zone and water history into our offer from the start.

Mold

Mold grows when moisture sits. After a flood or a long-running leak, it can show up behind drywall, under flooring, in insulation, and in basements. Mold remediation typically means removing affected materials, treating surfaces, fixing the moisture source, and drying everything out properly. In New York, mold assessment and remediation work on larger projects is regulated and generally requires licensed professionals.

You don't need to remediate before selling to us. We'll handle it after we buy. If you've already had a mold assessment or remediation done, share the paperwork with us. It can help our offer.

If you have an open insurance claim

Many homeowners we talk to have an open homeowner's or flood insurance claim, or a claim they think was underpaid. Selling while a claim is open is often possible, but it's important to understand how the sale affects the claim and any payments that are still coming. Your mortgage lender may also be named on insurance checks, which adds a step.

Talk to your insurance company, and ideally your attorney, before you sign a contract. In many cases, you can finish the claim and still sell the house as-is. The details depend on your policy and your mortgage.

Elevated and partially elevated homes

After Sandy, a lot of homeowners in Lindenhurst raised their houses to meet new flood elevation requirements. Many projects were funded through state and federal recovery programs. Some went smoothly. Others ran into contractor problems, cost overruns, or long delays, and a few were never finished.

If your house was partially raised, has temporary supports, or has open permits from elevation work, we can still buy it. We'll look at what's been done, what's left, and what paperwork exists. If you received recovery program funds, talk to your attorney about whether there are any conditions tied to the property before you sell.

How we evaluate a water-damaged house

• Where the water came from, and whether it's been stopped
• How high it reached and how long it sat
• What's been removed, dried, or replaced
• Whether there's visible mold, and how widespread it is
• The condition of the electrical system, heating system, and water heater, which often get damaged in floods
• The flood zone, elevation, and any elevation certificate
• Open permits or incomplete repairs

Checking your flood zone

You can look up your address on FEMA's Flood Map Service Center to see which flood zone your property is in. If you have an elevation certificate, keep it handy. It helps with pricing and with insurance. We buy in every flood zone, but knowing yours helps us give you an accurate number faster.

Fix it or sell it?

For minor water damage, like a single leak that's been fixed and a ceiling that needs patching, it may make sense to repair and list. For major damage, like a gutted first floor, widespread mold, or a house that needs to be raised, the math usually changes. Repairs can take months, costs often climb as walls are opened up, and you'll carry the house the whole time.

We'll give you a written offer so you can compare. If repairing and listing looks like the better move for you, we'll tell you.

What to do right now if you just had water damage

• Stop the source if you can, by shutting off the main water valve
• Turn off electricity to affected areas if it's safe to do so
• Take photos and video of everything before you clean up
• Call your insurance company to report the loss
• Start drying the house as quickly as possible to limit mold
• Keep receipts for anything you spend on emergency repairs

Even if you're planning to sell, these steps protect your insurance claim and limit the damage.

Selling a house that flooded more than once

Some canal homes have flooded several times over the years. Repeat flooding can affect flood insurance pricing and eligibility, and it can make some buyers hesitant. We still buy these houses. Tell us what you know about the history, and we'll factor it in.

You don't have to keep living with it

Water damage is exhausting to deal with. If you're tired of fighting with contractors, waiting on insurance, or living around a house that isn't fixed, selling as-is can be a fresh start. Call us, tell us what happened, and we'll give you a straight answer.

Hidden damage after flooding

Floodwater doesn't just wet what you can see. It soaks into wall cavities, insulation, subfloors, and the bottom plates of walls. It can corrode electrical components, damage furnace and boiler controls, and ruin water heaters. Saltwater from storm surge is especially hard on metal and wiring. Even when a house looks dry, moisture trapped inside walls can feed mold for months.

That's why water-damaged houses so often turn out to need more work than expected once walls are opened. When we price a house, we plan for that.

Flood insurance and the National Flood Insurance Program

Many homeowners in the area carry flood insurance through the National Flood Insurance Program or a private flood insurer. Flood insurance is separate from homeowner's insurance, which generally doesn't cover flooding from rising water. Flood policies have their own rules about what's covered, especially in basements, and claims can be complicated.

If you have a flood claim, keep copies of everything: the adjuster's estimate, photos, receipts, and correspondence. If you sell, your attorney can help you understand how any remaining claim payments are handled.

Elevation certificates

An elevation certificate is a document prepared by a licensed surveyor or engineer that shows a building's elevation relative to the expected flood level. It's used to rate flood insurance. If you have one, it can help us and future buyers understand the property's flood risk. If you don't, that's okay. It just means we'll estimate.

Disclosure of flood history

New York has made changes to seller disclosure requirements in recent years, including disclosure related to flood risk and flood history. Talk to your attorney about what applies to your sale. Regardless of the rules, tell us everything you know about past flooding and claims. It helps us price accurately.

Basements and crawl spaces

Many homes in the area have basements or crawl spaces that take on water during heavy rain or high tides. Common fixes include sump pumps, French drains, regrading, and waterproofing. Those fixes can work well, but they cost money and don't always solve the problem completely, especially near the water table. We buy houses with wet basements as-is.

The emotional side

Living in a house that has flooded, sometimes more than once, takes a toll. Many homeowners we talk to are simply tired of watching the weather and worrying about the next storm. If you're ready to move to higher ground, selling as-is can make that easier.

Raising vs. selling

If your house is substantially damaged in a flood zone, rebuilding may require elevating it to current standards. That can be very expensive. Selling lets someone else take on that decision and cost.

How the sale works

Questions